Two recent SEC enforcement actions serve as a clear reminder that Chief Compliance Officers (CCO) can be held personally liable – not for every firm misstep, but specifically for misleading regulators during an examination. Both cases involved backdated compliance records, and in each, the SEC determined that the CCO’s effort
Think before you “fix” it: CCO missteps lead to personal fines and bar
A stark reminder that Chief Compliance Officers are on the hook for misleading regulators during an examination.